Depends on the barrel and ammo.
A good barrel and match ammo with no wind should be able to go 100 to 150 pretty well. I have two 10/22 (both built up pretty well) will hold within that at 100 yards without any issues. Out to 150 it falls way outside of that. I would think a magnum would hold out to 150 alright.

__________________
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right gun, ammo and scope, you doing your part, you might even get beyond 150 yards with decent size groups. wind is going to be a big factor the further out the bullet gets, because it's losing velocity. some of the newer 22 WMR ammo is faster and more accurate than the older ammo.

The above three guys are correct that the cartridge would be capable of that out to 150-200 yards. But on the practical side, you would be lucky indeed if you could do 2" groups at half that distance with an out of the box rifle using the rifles favorite ammo. I would say if you bought a rifle and tried several brands of ammo and the best you could do was 2" at 50 yards you would be about average.

I own a Stirling .22 mag and have found that by bedding,floating and a little bit of work on the trigger this thing shoots less than thumbnail groups at 50yds. Testing different types of ammo is the best way to do this as my Stirling will shoot everything into a 1/2 " group but it just detests CCI mag ammo with a passion and groups minute of paddock with this stuff.

I go to a annual shoot here and we have a shoot called the Black Panther Cup where we have an A4 size picture of a Black Panther set at 200yds rimfire only event and the bullseye is the head and to virtually win the comp you would have to have 1 shot in the head and it isn't as easy as it sounds especially when you've got a crosswind to contend with.
It all comes down to ammo that the gun likes,a good 'scope and the shooter's ability,this being the most important because without this the other 2 are useless.

I'll second that...it was a Marlin 25MN that got me addicted to .22WMR...added a couple Grendels and I was Hooked for Life

2" at 150 is no problem for the Marlin. But as was stated before, you have to do your part
Good Equipment helps...4-16x40 scope, bipod, and sling. Trigger job & doing the Second Action Screw Mod help even more
Only paying $80 for the rifle and whooping .17HMR shooters at the range...Priceless

This is a Grendel R-31 carbine w/ 30-rd mags...if you can find one for less than $1K, you done good